AT&T Wireless, Verizon Complete Deal

Updated June 18, 2003 7:18 p.m. ET

AT&T Wireless Services Inc. and Verizon Communications Wednesday said they have finalized an agreement to sell their 49% joint interest in Czech wireless provider Eurotel Praha to Cesky Telecom AS for $1.05 billion. Cesky Telecom, of the Czech Republic, which already has a 51% stake in Eurotel Praha, announced the agreement earlier this month following approval of its board. Under terms of the deal, the two New York-based companies, which each own 24.5% of Eurotel Praha, will receive a total of $625 million each from the sale, including $100 million from shares of a dividend payment. AT&T Wireless said the...